AOL Inc.

In 2009, when Tim Armstrong took over as chief executive of AOL Inc., he faced a daunting task: Turn around a company that had gone from an Internet pioneer to near obsolescence in less than a decade. Six years later, Armstrong has not only revived AOL, he reinvented it, creating a thriving digital media company focused on online content, original videos and advertising technology. His efforts culminated this week when Verizon Communications Inc., the nation's No. 1 wireless carrier, agreed to buy AOL for $4.4 billion. "It's pretty remarkable, honestly," said Andrew McNellis, an analyst at investment firm Evercore ISI in New York. "He took an asset that was in...

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